The Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, Tuesday restated that volatility of global oil prices and weak output performance in domestic economy are factors that may jeopardise Nigeria’s foreign exchanges reserves accretion. Nigeria’s forex reserves, which slipped marginally to $48.723 billion on Monday, […]
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Nigeria’s First Bank plans $500 mln Eurobond in 2011
FBN Holdings Plc, the parent company of First Bank Nigeria, plans to raise $500m by selling a Eurobond this year after abandoning a similar offering last year. The Chief Executive Officer, FBN Holding, Mr. Bello Maccido, told Reuters that the money was needed to finance investments in loans and infrastructure. […]
Banks (Finally) Ready to Start Lending Again
With economic conditions getting tighter, banks appear to be figuring out that it’s time to get looser. Lending conditions, particularly for businesses, are finally beginning to thaw after five years of financial lockdown, according to the latest Fed Senior Loan Officer survey. Though banks are still hesitant to lend to […]
